Glancy Prongay & Murray LLP Files a Securities Class Action on Behalf of Ferroglobe PLC Investors (GSM)
Glancy Prongay & Murray LLP (“GPM”) announces that it has filed a class action lawsuit in the United States
District Court for the Southern District of New York, captioned Treankler v. Ferroglobe PLC et al., (Case No.
1:19-cv-00629), on behalf of persons and entities that purchased or otherwise acquired Ferroglobe PLC (NASDAQ:
GSM) (“Ferroglobe” or the “Company”) securities between August 21, 2018 and November 26, 2018, inclusive (the “Class
Period”). Plaintiff pursues claims under the Securities Exchange Act of 1934 (the “Exchange Act”).
Investors are hereby notified that they have 60 days from the date of this notice to move the Court
to serve as lead plaintiff in this action.
If you are a shareholder who suffered a loss, click
here to participate.
On November 26, 2018, the Company reported a net loss of $2.9 million for the third quarter 2018, compared to a net profit of
$66.0 million the prior quarter. On this news, the Company’s share price fell $2.97 per share, more than 62%, to close at $1.80 per
share on November 27, 2018, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or
misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and
prospects. Specifically, Defendants failed to disclose to investors: (1) that there was excess supply of the Company’s products;
(2) that demand for the Company’s products was declining; (3) that, as a result, the pricing of the Company’s products would be
materially impacted; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business,
operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Follow us for updates on Twitter: twitter.com/GPM_LLP.
If you purchased Ferroglobe securities during the Class Period, you may move the Court no later than 60 days from the
date of this notice to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any
action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish
to learn more about this action, or if you have any questions concerning this announcement or your rights or interests
with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles,
California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com.
If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Glancy Prongay and Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
www.glancylaw.com
shareholders@glancylaw.com
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